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How Enterprises Use Market Research to Develop Market

2024-07-18 15:35:22 Source: Champu Consulting Visits:0

1. Market Segmentation: Identifying Potential Markets

Market segmentation is the process of segmenting a market into groups of consumers with similar needs or characteristics. Through market segmentation, companies can more accurately identify target customers, understand their needs and preferences, so as to provide a basis for market development.

When conducting market research for a health food company, Shangpu Consulting subdivided the market into several different groups by collecting information on consumers' age, gender, health status and buying habits. We found that young white-collar groups have a greater demand for convenient, healthy and nutritionally balanced meal replacement products. Based on this discovery, the health food company launched a new product line targeting this group and successfully opened up the market.

2. target market selection: determine the market direction

On the basis of market segmentation, companies need to select one or several market segments with the greatest potential as the target market. The choice of target market should be based on factors such as the enterprise's resources, capabilities and market attractiveness.

In the case of the health food company mentioned above, Champ Consulting helped the company assess the attractiveness of each market segment and the company's ability to compete. In the end, the company chose the young white-collar group as the main target market, and formulated the corresponding market strategy according to the characteristics of this group.

3. market positioning: clear brand value

Market positioning is to create a unique image of a company's product or brand in the minds of target consumers. Through clear market positioning, enterprises can highlight the characteristics and advantages of products and attract target consumers.

When Shangpu Consulting conducted market research for an emerging sneaker brand, it found that there are already many well-known brands in the market occupying the high-end and mid-end markets. Therefore, we recommend that the brand focus on cost-effective and fashionable design through market positioning strategies to attract young consumers who pursue cost-effective. Through this strategy, sneaker brands successfully established their own positioning in the market and quickly gained market share.

4. Product Innovation: Meeting Market Demand

Market research can not only help enterprises understand the existing market demand, but also reveal potential market opportunities and provide inspiration for enterprise product innovation.

When providing consulting services for a smart home company, Shangpu Consulting found through market research that consumers have high expectations for smart home products that can integrate multiple functions. Based on this discovery, the smart home company has developed a smart center product that integrates lighting, audio and security monitoring functions, which meets the needs of the market and has been recognized by the market.

5. Conclusion

Market research is an important tool for enterprises to explore the market. Through the steps of market segmentation, target market selection, market positioning and product innovation, enterprises can better understand the market and consumers and formulate effective market strategies. The case study of Shangpu Consulting shows that market research can help companies identify market opportunities, avoid risks, and stand out in the fierce market competition. With the changing market environment, enterprises need to constantly conduct market research to adapt to market changes and achieve sustainable development.




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  • On July 05, 2021, Shangpu Consulting received a satisfaction evaluation sheet from the customer for the "In-process Plastic Market Research Project in the Automotive Sector. The customer said: The project report completed by Shangpu Consulting in cooperation with our company is due to the wide range of projects and strong professional products. Thank you very much for the professional and detailed market research report of Shangpu Consulting. I look forward to cooperating again next time and wish Shangpu Consulting by going up one storey! Once again, I would like to thank the users for their support and wish them a prosperous career and an evergreen foundation!

  • On July 05, 2021, Shangpu Consulting received a satisfaction evaluation sheet from the customer for the "Research Project of the Network Designated City Transport Company. The customer said: The market research project provided by Shangpu Consulting for our company has provided us with a valuable reference basis for objectively evaluating the current market situation of the industry and achieved the expected goal. I also wish Champ Consulting the development of by going up one storey! Once again, I would like to thank the users for their support and wish them a prosperous career and an evergreen foundation!

  • On July 07, 2021, Shangpu Consulting received a satisfaction evaluation sheet from the customer for "A Brand Sales Leading Research Project in the Water Purifier Industry. The customer said: The market research project provided by Shangpu Consulting for our company has provided us with a valuable reference basis for objectively evaluating the current market situation of the industry and achieved the expected goal. I also wish Champ Consulting the development of by going up one storey! Once again, I would like to thank the users for their support and wish them a prosperous career and an evergreen foundation!

  • July 07, 2020, Shangpu Consulting received a satisfaction evaluation sheet from the customer's "Lithium Battery Enterprise Sales Strategy and Production Cost Research Project. The customer said: The market research project provided by Shangpu Consulting for our company has provided us with a valuable reference basis for objectively evaluating the current market situation of the industry and achieved the expected goal. I also wish Champ Consulting the development of by going up one storey! Once again, I would like to thank the users for their support and wish them a prosperous career and an evergreen foundation!

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  • On July 07, 2021, Shangpu Consulting received a satisfaction evaluation sheet from a customer for "A Brand in an Industry Leading Sales Research Project for Three Consecutive Years. The customer said: The survey plan of Shangpu Consulting is rigorous in design, scientific in method, standardized and rigorous in survey organization process, and basically reliable survey data, which provides relatively credible first-hand information for our research work. The research results are of great help to our company to understand the whole picture of the industry. Once again, I would like to thank the users for their support and wish them a prosperous career and an evergreen foundation!

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  • On July 09, 2021, Shangpu Consulting received a satisfaction evaluation sheet from the customer for a hazardous waste treatment research project. The customer said: this is the organizational structure of the survey, the service process is very good, wish your company's consulting work is getting better and better, look forward to the next cooperation. I wish users a prosperous career, evergreen foundation!

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